Spv for removing from balance sheet assets and immovable properties due to impending divorce


Rajesh D. (Business)     12 March 2019

Rajesh D.
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I have assets by way of several high value bonds, MF etc. in demat and immovable properties in my balance sheet. Due to impending separation and divorce sooner or later which is not yet reached the courts, I want to remove these assets from my balance sheet. This I am wanting to do so that the property does not show in my balance sheet as and when maintenance/ alimony is decided by a judge then my and my huf balance sheet will be looked at. For this I have thought of several ways.
1.Gifting immovable properties to my father's huf (will stamp duty be applicable as its m blood relative father's huf).
I am aware that my father's huf would automatically consist of me as coparcenor  and my wife as member. However would my father's huf balance sheet be required to calculate the maintenance/ alimony of my wife? Can my father's huf balance sheet be called for ? Is there a better way to remove these immovable properties from my and my huf balance sheet so that the are not used for calculating as my assets ?
2. Gifting bonds, MF, shares, stocks etc. to my father's huf - for same reason above.
Please suggest if this is possible and if i have not thought of something. . . .which would cause a problem to me in future.

Can a trust or LLP or any such SPV be created to transfer my immovable and liquid assets, so that they are not in my balance sheet?
looking for early reply.

avater

Dhirajlal Rambhia (KVO Merau Kutchh)     13 March 2019

Dhirajlal Rambhia
KVO Merau Kutchh 
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An application made by your wife suspecting unauthorized transfer of assets to such HUF can get it  attached (or stay obtained over its transfer).

Rajesh D. (Business)     13 March 2019

Rajesh D.
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The assets are in my individual balance sheet. How is the transfer unauthorised ? Don't I have the right or power to transfer/ gift/ sell my asset to any person or relative of mine? Where is the illegality in this?
If my wife transfer's her asset to anyone of her relative before the impending divorce, as per you, will that be unauthorised ?
Request to please explain.

Also request to answer my original question

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Dhirajlal Rambhia (KVO Merau Kutchh)     13 March 2019

Dhirajlal Rambhia
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As per family court any disbursement of assets to save your self from minimizing alimony amount is called transfer without court's permission, and can be stayed from further transfer.

Even you can transfer these assets but your credibility will remain same as before transfer, and hence the term.

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Rajesh D. (Business)     13 March 2019

Rajesh D.
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Ok, I get it. This is helpful. Thankyou Dhirajbhai.
Matter is not in court as yet. I feel I am willing to take the risk. In case my wife makes such an application, can I make an application that the motive for marriage and subsequent divorce in my wife's mind is to claim 50% of the assets owned by me. And the motive is such, only due to the biased laws towards in our country favouring a particular gender. The laws encourage such misconceived motives by this gender as soon as husband assets are substantial (especially 2nd home) and a separation would  cause substantial benefit and far better lifestyle to this her. This gender then resorts to various methods such as mental cruelty, physical and mental torture to parents  of spouse and to children, wild lifestyle, adultery with paramour etc. This is NOT uncommon in a city like Mumbai.
Please suggest.
 

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Dhirajlal Rambhia (KVO Merau Kutchh)     13 March 2019

Dhirajlal Rambhia
KVO Merau Kutchh 
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Rules are made for betterment of larger portion of society; but sometimes minors suffer due to its adverse effect.

Well. that is not the point to be discussed now. Better take precaution for any action under IPC 498 etc. first.

And if possible get it settled through community leaders.

Good Luck...

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Gautam Barot (None)     13 March 2019

Gautam Barot
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Advantage fair s*x..... Poor husbands...

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